Vitalie Iambla, Construction Analyst, PMR
The construction industry in Belarus has witnessed a momentous reduction in recent years. Preliminary data reveals that construction output collapsed by 18% y-o-y in 2016, following the 11% contraction seen a year earlier and a 6% drop in 2014. PMR estimates that the key factors in this decline have been the poor economic performance and the saturation in residential construction. GDP witnessed a 3.8% decrease in 2015 from a 1.7% growth a year earlier. Last year, the contraction in GDP likely eased to 2.6%, but subdued construction activity in Belarus became more broad-based.
As Belarus’ economy has…
11% slump in cement consumption in Belarus
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